Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr Sells 12,848 Shares of Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) EVP Michael S. Karr sold 12,848 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $20.53, for a total transaction of $263,769.44. Following the transaction, the executive vice president now owns 30,439 shares in the company, valued at $624,912.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Pacific Premier Bancorp Stock Down 1.2 %

PPBI stock opened at $19.53 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.40. Pacific Premier Bancorp, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $37.50. The firm’s 50-day simple moving average is $21.72 and its 200 day simple moving average is $28.95. The stock has a market cap of $1.87 billion, a PE ratio of 6.67 and a beta of 1.20.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company had revenue of $242.53 million for the quarter, compared to analyst estimates of $196.23 million. Pacific Premier Bancorp had a net margin of 30.86% and a return on equity of 10.05%. During the same period in the previous year, the business posted $0.70 EPS. As a group, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 2.42 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, May 5th. This represents a $1.32 annualized dividend and a yield of 6.76%. Pacific Premier Bancorp’s payout ratio is 45.05%.

Hedge Funds Weigh In On Pacific Premier Bancorp

Large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at about $32,000. Quarry LP bought a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at about $28,000. Belpointe Asset Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 279.2% in the first quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,005 shares during the period. CWM LLC boosted its holdings in shares of Pacific Premier Bancorp by 79.6% in the fourth quarter. CWM LLC now owns 1,814 shares of the financial services provider’s stock worth $57,000 after buying an additional 804 shares during the period. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Pacific Premier Bancorp by 40.2% in the third quarter. Eagle Bay Advisors LLC now owns 1,896 shares of the financial services provider’s stock worth $59,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 94.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PPBI shares. Piper Sandler dropped their target price on shares of Pacific Premier Bancorp from $33.00 to $28.00 in a report on Monday, May 1st. Keefe, Bruyette & Woods dropped their target price on shares of Pacific Premier Bancorp from $33.00 to $26.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Thursday, May 11th. Raymond James dropped their target price on shares of Pacific Premier Bancorp from $37.00 to $34.00 and set a “strong-buy” rating on the stock in a report on Friday, January 27th. Finally, StockNews.com started coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 18th. They issued a “sell” rating on the stock.

About Pacific Premier Bancorp

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Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.